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Insulet Corporation Insulet Reports Third Quarter 2021 Revenue Increase of 18 % Year - Over - Year November 4 , 2021 ACTON , Mass .-- ( BUSINESS WIRE ) -- Nov . 4 , 2021 -- Insulet Corporation ( NASDAQ : PODD ) ( Insulet or the Company ) , the global leader in tubeless insulin pump technology with its OmnipodⓇ brand of products , today announced financial results for the three months ended September 30 , 2021 . Third Quarter Financial Highlights : • Third quarter 2021 revenue of $ 275.6 million , up 17.8 % , or 16.9 % in constant currency¹ , compared to $ 234.0 million in the prior year , within the guidance range of 11 % to 18 % on a constant currency basis o Total Omnipod revenue of $ 260.3 million , an increase of 22.7 % , or 21.7 % in constant currency ■ U.S. Omnipod revenue of $ 167.2 million , an increase of 26.4 % ■ International Omnipod revenue of $ 93.1 million , an increase of 16.7 % , or 14.1 % in constant currency o Drug Delivery revenue of $ 15.3 million , a decrease of 30.1 % • Gross margin of 68.5 % , up 360 basis points ● Operating income of $ 33.7 million , or 12.2 % of revenue , compared to $ 23.8 million , or 10.2 % of revenue , in the prior year • Net income of $ 12.6 million , or $ 0.18 per diluted share ( includes a loss on extinguishment of debt of $ 1.5 million related to the note holders conversion of convertible notes ) , compared to net income of $ 11.6 million , or $ 0.17 per diluted share , in the prior year Adjusted EBITDA¹ of $ 55.7 million , or 20.2 % of revenue , compared to $ 42.3 million , or 18.1 % of revenue , in the prior year Recent Strategic Highlights : • Presented data at the EASD 2021 diabetes conference : o OmnipodⓇ 5 Automated Insulin Delivery System ( Omnipod 5 ) pivotal extension results demonstrating statistically significant improved safety and glycemic outcomes observed in the three - month Omnipod 5 pivotal study were maintained over 12 months of home use ● o Omnipod DASH® results from the Company's largest cohort study of people living with type 1 diabetes demonstrating a significant decrease in A1c after 90 days of use for children , adolescents , and adults • Published results in Diabetes Technology & Therapeutics2 that demonstrated a CGM - informed bolus calculator was safe when used with Omnipod 5 in manual mode , with fewer hypoglycemic readings in the post - bolus period compared to a standard bolus calculator • Received FDA clearance for use of Lyumjev® with Omnipod and Omnipod DASH systems • Launched Omnipod DASH in Australia marking further international expansion and entry into Asia Pacific • Achieved record third quarter U.S. Omnipod new customer starts 1 See description of non - GAAP financial measures contained in this release . 2 Diabetes Technology and Therapeutics - Clinical Evaluation of a Novel CGM - Informed Bolus Calculator with Automatic Glucose Trend Adjustment ; Jordan E. Pinsker , Mei Mei Church , Sue A. Brown , Mary K. Voelmle , Bruce W. Bode , Brooke Narron , Lauren M. Huyett , Joon Bok Lee , Jason O'Connor , Eric Benjamin , Bonnie Dumais , Trang T. Ly . " Our third quarter results reflect the growing power of Omnipod . We are driving global new customer starts , have momentum across our business , and are advancing exciting new innovations , " said Shacey Petrovic , President and Chief Executive Officer . " We continue to share compelling clinical data that demonstrates the improved outcomes and quality of life Omnipod offers to people of all ages . We remain on track for Omnipod 5 clearance later this year and cannot wait to bring this transformational product to market and further our mission of improving the lives of people with diabetes . " 2021 Outlook : Revenue Guidance ( in constant currency ) : • For the year ending December 31 , 2021 , the Company is updating its revenue growth guidance range to 18 % to 20 % ( previously 16 % to 20 % ) . Revenue growth ranges by product line are : o Total Omnipod of 18 % to 20 % ( previously 18 % to 21 % ) ■ U.S. Omnipod of 22 % to 24 % ( previously 22 % to 25 % ) ■ International Omnipod of 12 % to 14 % ( previously 11 % to 15 % )